BOE Rates hit 1.5%

Really2

aardvaak wrote: »

So why do people look down their noses at people with savings who are just trying to get a decent return on their monies as an income to live.

Do they Iwould of thought savers looked down on borrowers? (quiet a few on here blame borrowers for the current situation)
I have never looked down on anyone for saving money or borrowing money, peoples circumstances change.

Kenny4315

The inflation figures are so massaged that they often bear no resemblance to the real cost of living increases/decreases.

Council Tax my biggest yearly payment £2k, is continually (for as long as I can remember), going up by 3 times the 'rate of inflation', and I have no redress whatsoever, I can't change supplier or shop around.

Gas (£1200/Electric £400) have been up by 30% plus in the last 12 months, again little or no competition, they have the market stitched between the big 6 suppliers. With the Russia situation that will be the latest reason to hike prices or at least not pass on any cuts.

Food prices went through the roof, although they seem to have come down a bit through competitive forces.

Then the government try to convince me that inflation is running at somewhere between 2 & 4% ...... total boule ocks. I simply just don't believe the figures these days, they are just lying bar stewards, and combined with sublime idiocy, that makes a woefull combination.

Snarf999

Really2 wrote: »

It is up to you but fixed rates will come down and going on to a SVR would not cost you a penny and save you money but its up to you. I am looking to switch to a 10Y fixed when I think the rates are low enough but I think that rate needs to be below 4%.

Point being with the OP was advice on where to go next. I have no doubt that some point in the future fixed rates may well be below 4%, but no time soon, and I believe fixed rates will only go up when interest rates go up. Yes, switching to the SVR would save money, however I think it's a short term gain for a longer term loss if you can't get a good mortgage deal once rates start heading upwards.